White House trade adviser Peter Navarro said that “technically, we did not have a yield curve inversion”. He explained that “an inverted yield curve requires a big spread before short and long,.” But, “all we have had is a flat curve.”

He also emphasized “we have the strongest economy in the world and money is coming here for our stock market. It’s also coming here to chase yield in our bond markets,”

Navarro also downplayed the impact of tariffs on Chinese imports. He noted “we’ve had tariffs on for over a year,” and “the Chinese have borne the entire burden of that by slashing their prices and reducing the value of their currency by 12%.”

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